14 November, 2012



Drake & Scull International signs off a Loan Financing Deal with a Syndicate of Regional and International Banks



[Dubai, 14 November, 2012] Drake & Scull International PJSC (DSI), a regional market leader in integrated design, engineering and construction disciplines of Civil Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Oil and Gas and Rail has signed today a $120 million USD equivalent loan financing split across an AED and USD tranche.


The Company raised a 5-year term loan with a syndicate of banks. Goldman Sachs International (“GSI”) acted as Coordinator for the transaction. Emirates NBD Bank PJSC, First Gulf Bank PJSC and HSBC Bank Middle East Limited joined GSI as Co-Bookrunners and Mandated Lead Arrangers and Mashreqbank PSC as a Lead Arranger.


On this occasion Osama Hamdan, CFO of Drake & Scull International PJSC, commented “The loan will help the company in pursuing its growth plans in North Africa, Asia and other growth markets and will provide the liquidity to capitalize on various PPP (Private Public Partnership) projects which usually require participation from contractors in terms of investment, especially in the infrastructure sector. This transaction will allow us to strategically grow the operations, coverage and team of DSI by supporting key new areas of business such as our Oil & Gas, Rail and Asian operations. We will also focus on existing areas that continue to grow in importance globally such as Infrastructure and Water and Power.”


Software AG Named in the Leaders Quadrant for Enterprise Governance, Risk and Compliance Platforms



Leading industry analyst firm recognizes Software AG as a leader in the enterprise governance, risk and compliance platform market


ARIS Risk and Compliance Manager covers all key functionalities: Risk Management, Audit Management, Compliance and Policy Management and Regulatory Change Management


Its core value is its strong focus on business performance and seamless integration with the ARIS Platform


In combination with webMethods Business Events, Software AG’s GRC solution delivers real-time monitoring of operational processes

Dubai, United Arab Emirates, November. 14, 2012 – Software AG recently announced it was positioned by Gartner, Inc., a leading industry analyst firm, in the Leaders Quadrant of the recently published Magic Quadrant for Enterprise Governance, Risk and Compliance Platforms#. Software AG’s GRC solution combines Business Process Analysis (BPA) with audit-proof workflows, turning risk and compliance management into a strategic management tool. It helps enterprises comprehensively manage their compliance activities and analyze/assess operational risks.

“We appreciate Gartner’s recognition by naming us a ‘Leader’ within the enterprise governance, risk and compliance platform market,” said Ivo Totev, Chief Marketing Officer and member of the Group Executive Board, Software AG. “We believe we take an innovative approach to the market by designing products essential for businesses faced with GRC issues. We understand the market and the importance of business performance and strive to help organizations reach their goals faster, more efficiently and cost effectively.”

Marco Gerazounis, Senior VP Middle East North Africa & Turkey, Software AG, said: “This is an important distinction that reaffirms Software AG’s continuing thrust to deliver value-driven solutions that drive business performance and enhance profitability. Moreover, being recognized as an industry ‘Leader’ is a reflection of Software AG’s uncompromising commitment to quality and excellence in providing business process solutions that satisfy the specific requirements of our clients.”

Software AG’s GRC solution takes advantage of its ARIS Platform to enable enterprises to plan, visualize and evaluate processes, applications and data through a central repository. The solution uses one unified repository across all different risk and compliance areas. All data concerning risk assessments, control testing, survey and audits are stored in a single database, reducing redundancy and ensuring consistency in data and reports.

According to Gartner, “Reporting and managing through a single platform potentially gives executives, auditors and managers a holistic view of the enterprise’s risk and compliance postures, as well as views sorted by requirement, entity and geography.”

At the core of Software AG’s GRC solution is ARIS Risk and Compliance Manager, which takes a process-focused approach to GRC. With this product businesses can analyze and assess risks, automatically escalate issues for resolution and update management via an up-to-the-minute dashboard.

ARIS Risk and Compliance Manager offers a new module for audit management which delivers support for handling work papers and scheduling audit-related tasks, time management and reporting throughout the audit phases of planning, preparation, execution and reporting. The enhanced policy management workflow can be adapted to a company’s requirements to gain confirmation from the appropriate people that policies have been applied. In combination with webMethods Business Events, a Complex Event Processing (CEP) product, enterprises will gain a real-time view of what’s happening across their business.

For more information on Software AG’s GRC solution, visit the company’s GRC Lounge.

Analyst reports are available at www.softwareag.com/recognition.


EIBFS organizes special workshop for GCC banking institutions


Successful event reinforces cooperative ties between banking institutions in the region


November 14, 2012


The Emirates Institute for Banking and Financial Studies (EIBFS), the sole provider of specialized knowledge and enhanced learning experiences for the UAE banking and financial sector, successfully hosted a two-day workshop that specifically catered to directors and senior officials of banking institutions across the GCC region’s banking and finance segment. The program, which was held recently at the Al Meydan Hotel in Dubai, saw the attendance of more than (5) participants coming from leading banks in the region. The move is part of EIBFS continuing commitment to provide the banking segment with strategic and relevant training programs and courses.


Highlights of the event included key speeches and presentations made by industry leaders like Dr. Jomaan Bin Abdullah Al Wigdani, Director General, Saudi Institute for Banking; Dr. Yacoub Al Rifai, Director, Institute of Banking Studies in Kuwait; Gary Murray, Director, Bahrain Institute of Banking and Finance and Anis Allwati, General Director, College of Banking and Financial Studies in the Sultanate of Oman.


“We are very pleased at the overwhelming turnout of this event, ably meeting the set objective of strengthening cooperation among GCC banks and facilitating the exchange of experiences, best practices and information through the many activities we held within the workshop. The exciting two-day program proved to be a strategic venue to discuss timely issues and at the same time develop solutions for human resources development challenges and how to further the development of GCC nationals who have chosen banking as a professional career. We would also like to thank the industry leaders who came and shared their insights with us as the participants surely learned from them and are now ready to put their newfound knowledge to use,” concluded Jamal Al Jasmi, General Manager of the Emirates Institute for Banking and Financial Studies (EIBFS).

13 November, 2012



Al Hilal Bank CEO Mohammed Jamil Berro receives Golden Order of Merit at Tatweej Academy Excellence Awards



November 13, 2012

Mohammed Jamil Berro, CEO of Al Hilal Bank, was bestowed the Golden Order of Merit in Wise Banking Management at the 2012 Tatweej Academy Excellence Awards held recently at the Armani Hotel in Dubai’s Burj Khalifa.

The prestigious Tatweej awards ceremony honors prominent officials, business figures, civilians and organizations for their outstanding contributions to Arab business and society. The event also provides an annual forum for Arab institutions and companies to exchange knowledge, strengthen cooperation, and foster excellence. This year’s second edition was held under the patronage of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.

H.E. Humaid Mohammed Obaid Al Qatami, the UAE’s Minister of Education, personally handed over the award to Berro. Al Hilal’s CEO was commended along with other business luminaries for adhering to international management standards, sustaining exceptional working environments, providing world-class services, and driving organizational growth.

“This is a great honor not only for me but more importantly for Al Hilal Bank which has been a model of banking excellence and innovation locally and regionally. We hope to influence more people and organizations in the Arab region to embrace excellence as an important element and requisite goal in everything they plan and do,” said Berro.

12 November, 2012



Strong support for Emiratization to constitute strategic goal for all UAE organizations, says EIBFS General Manager Al Jasmi

Nominations now open for the HRD Award in Banking & Financial Sector, Best CEO Award and Distinguished Woman Award



November 12, 2012


The strong support for the country’s move towards Emiratization is expected to be the basis for the creation of a common strategic goal across all UAE organizations, according to Jamal Al Jasmi, General Manager of the Emirates Institute for Banking and Financial Studies (EIBFS), the sole provider of specialized knowledge and enhanced learning experiences for the UAE banking and financial sector. Jasmi, who is also the coordinator for the Human Resources Development Committee in the Banking & Financial Sector (HRDC), has revealed that nomination forms for this year’s edition of the HRD Award in Banking & Financial Sector, Best CEO Award and Distinguished Woman Award, was distributed across key UAE organizations in banking, insurance, money exchange and other related financial sectors. The awards are set to be presented at the opening ceremonies of Expo Sharjah’s 15th National Career Exhibition in the Banking, Financial and Government Sector on February 20, 2013.


Now on its 15th year, the HRD Award in the Banking and Financial Sector has helped create a competitive platform for the country’s banking and finance industry. The aim of the award is to give recognition and honor to UAE organizations that have made significant contributions in the country’s move to increase national employment and support for the Emiratization initiative. The awards are convened by a special committee that has been tasked to choose outstanding candidates based on five core criterions—the Strategic Emiratization Plan (SEP), Leadership, Human Resources, Training and Development & Community Service. The deadline set for the submission of nomination forms is on January 13, 2013.


“We are looking forward to receiving strong response from the country’s banking and financial institutions, surely fielding nominations for career professionals and organizations who have played an important role in support of the government’s Emiratization program,” said Al Jasmi. “Over the last few years, the awards have strongly positioned itself as a strategic platform to recognize these outstanding individuals and to showcase the contributions they have made. In turn, the strong support given to help increase national employment has helped in arriving to a common strategic goal for all banking and finance organizations and companies in the country.”


This year’s award will include the ‘Best CEO’ category, which is the first-ever award aimed at recognizing the role played by the CEOs in developing Emiratisation and HRD policies at their institutions. Meanwhile, the ‘Distinguished Woman Award’ strives to honor the women working in the Banking & Financial Sector. The award looks to recognize national woman leaders who have contributed to the development of banking and financial products and services.

11 November, 2012



Injazat to discuss business-oriented information security management strategy at Middle East Enterprise Security Summit 2012


Enterprise security needs to be adaptive in view of new business dynamics, sophisticated threats and ever-broadening risk landscape

November 11, 2012
Injazat Data Systems will take part in Frost & Sullivan’s Middle East Enterprise Security Summit 2012 as Platinum Partner, with Injazat’s Head of Information Security Kamran Ahsan to discuss reasons for enterprise security to be adaptive as business models are transforming, technologies are evolving and threats are approaching new heights of advancement and sophistication. Titled “Information Security Management – when the going gets tough!” the presentation highlights a proactive strategy of security management that anticipates and mitigates risks associated with business assets and services.

The Summit, which will be held at the Habtoor Grand Beach Resort in Dubai on November 21, 2012, seeks to complement ongoing reforms in information security in the Middle East, particularly in the UAE where several measures are being undertaken to enhance information security, both at the government and corporate levels.

“Information security is increasingly becoming a main concern in today’s modern business environment. This trend is very much evident in the Middle East, where enterprises have experienced information-related threats such as infiltration, data leakage and cyber warfare among others. Injazat Data Systems will highlight how enterprises can proactively address these challenges and mitigate risks associated with business assets and services of enterprises. Moreover, with the best minds in enterprise security attending this event, we expect to have an in-depth discussion of the new trends and developments in information security in the Middle East,” said Ibrahim Lari, CEO, Injazat Data Systems.

Andy Baul Lewis, Director, Information and Communication Technologies Practice, Middle East and North Africa, Frost & Sullivan states, “The changing Enterprise landscape and paradigm shift in communications to collaborative technologies, coupled with increased Internet penetration and information sharing, network threats  are making organizations review their security policies. Also, with the Government spending on IT, the Middle East Network Security market is expected to grow over the next five years, thereby opening up huge opportunities for vendors to identify and tap.”


The key areas of discussion at the Summit would include Information Security Management, Evolving Role of the CIOs, Protecting IT Infrastructure from Future Threats, Efficient and Effective ways to protect Data and Applications, Ways to Manage Security Gaps in an Enterprise and Bridging the gap between Security and Operational Efficiency.

This summit aims to convene the best minds in Enterprise Security under one roof to create an interactive milieu for exchange of knowledge and ideas.

The Middle East Enterprise Security Summit 2012 will be attended by government representatives and senior executives of leading corporate organizations in the region, including CIOs/ CISOs/ CTOs, Vice Presidents, Directors, General Managers, Network Managers, Enterprise Security Architects, Internet Security Architects, Compliance Officers and Department Heads. The Summit aims to address the emerging and continuing threats to enterprise security, as well as respond to increasing risk of security breaches and data leakage, cyber warfare, and data center security, among others, in the Middle East.

Injazat Data Systems, an IT and business service company founded in Abu Dhabi in 2005, has been one of the UAE’s primary technology movers. The company unveiled its Injazat Premier Data Center in 2008 – the first Tier IV design-certified data center in the Middle East – in response to surging demand for better performance and cost efficiencies, flexibility, scalability and availability among local and national enterprises.

07 November, 2012



EIBFS and Teamworking International holds unique employee engagement and performance improvement workshop

‘An Even Better Place to Work’ sessions help participants increase company profit margins and create prosperous and productive working environment

November 7, 2012

The Emirates Institute for Banking and Financial Studies (EIBFS), the sole provider of specialized knowledge and enhanced learning experiences for the UAE banking and financial sector, and Teamworking International Ltd., the market leaders in corporate training, revealed the successful hosting of ‘An Even Better Place to Work,’ a unique employee engagement and performance improvement workshop, held recently at the EIBFS Campus in Abu Dhabi. The event was highlighted by lively and strategic conversations that taught participants on how to collaborate effectively and help drive up company profit margins while at the same time create a prosperous and highly productive working environment.

‘An Even Better Place to Work’ is the culmination of over 20 years of work in organizations on leadership, culture and engagement issues--sharing best practices and productive initiatives from leading experts. The workshops featured key interactive sessions and discussions that were led and moderated by Tom Flatau, renowned executive coach and speaker from Teamworking International. During the sessions, participants learned how to measure current staff engagement levels and the tools needed to make significant changes; achieve higher ownership levels; reduce levels of people problems; create greater trust and openness between colleagues; develop savings in time, staff absenteeism and people turnover; achieve less financial waste on dysfunctional conflict and how to develop a more effective and productive workforce.

“Even in the light of the impact made by the recent economic gridlock, businesses in the Middle East have positioned themselves well on the path to recovery. The workshop sessions we hosted with Teamworking International aimed at giving companies and organizations a one-step advantage from their competition—teaching them on how to increase their profit margins and also on how to create a working environment that increases productivity and improves efficiencies. The high number of participants and the positive responses we received have given us the inspiration to connect closely with the local business segment and live up to our commitment of providing them with more specialized trainings and workshops,” concluded Jamal Al Jasmi, Director General, EIBFS.

06 November, 2012



Dubai Business Women Council President named ‘Most Influential Arab Woman in Family Business’ at Forbes Middle East awards




November 6, 2012

Dubai Business Women Council (DBWC) has announced that its President Raja Al Gurg has received the ‘Most Influential Arab Woman in Family Business’ award during the Forbes Middle East CEOs Forum that was held in Dubai recently under the patronage of H.E. Eng. Sultan bin Saeed Al Mansoori, UAE Minister of Economy. The awards ceremony was hosted in celebration of the exceptional achievements of outstanding CEOs and distinguished leaders from diverse sectors, including some of the MENA region’s most influential women.


Commenting on the award, Raja Al Gurg said, “It is certainly an honour for me to receive this award from Forbes Middle East, and I am glad that I have been able to influence other women in the region to realise their entrepreneurship dreams. An increasing number of women in the MENA region are demonstrating their business acumen and proving their ability as highly capable entrepreneurs, while at the same time efficiently managing their family commitments. I would like to dedicate this award to all women in the region who have made a positive contribution to the socioeconomic development of the Arab world.”



Founded in 2002, DBWC motivates women to be productive members of the society, while encouraging role models to rise up from the ranks and inspire other women around the world, especially in the Arab region, to discover their true potential. DBWC organises the high-profile monthly event ‘Network Majlis’ to provide information about the latest knowledge, skills and best practices for women entrepreneurs and leaders.


Arab Brazilian Chamber highlights investment prospects in Brazil for Middle East businesses during Dubai forum



November 6, 2012

Arab Brazilian Chamber of Commerce (ABCC) and the Brazilian Export and Investment Promotion Agency (Apex) today (Tuesday, November 6, 2012) conducted presentations focusing on the strategic importance of Brazil as a Middle East trade partner during a special forum held at The H Hotel in Dubai. Organized by Corporate Publishing International (CPI) Dubai’s Trade and Export Middle East Magazine and supported by Dubai Exports, the forum featured Michel Alaby, CEO of the Arab Brazilian Chamber; Sidney Alves Costa, Representative for the Middle East, Apex-Brasil, and other key personalities from the government and the private sector in the Middle East and Brazil to discuss ideas and facilitate networking activities with representatives from the trading community.


“The Middle East and Brazil have maintained strong trade relations over the years, creating lucrative investment opportunities for businesses and entrepreneurs from both sides. Moreover, an increasing number of Middle Eastern and Brazilian companies are actively seeking advice from the Arab-Brazilian Chamber of Commerce about potential business opportunities. This forum served as a consolidating platform that gathered businesses from the Middle East and Brazil to jointly discuss new possibilities to promote mutual business growth and explore opportunities to establish strategic alliances,” said Michel Alaby, Director-General of the Arab Brazilian Chamber.


Other speakers at the forum were Eng. Saed Al Awadi, Chief Executive Officer, Dubai Exports; Ambassador Joao de Mendonca Lima, Ambassador of Brazil; David McGee, Global Trade Manager - Large Corporations, HSBC, UAE; Robert Siegel, Vice President Cargo Commercial Operations Europe & Americas, Emirates SkyCargo; and Carlos Machado, Representative of Banco do Brasil S.A. - MENA, Turkey and India.


The Arab-Brazilian Chamber of Commerce has been established to consolidate and expand partnerships, generate opportunities and bring Arabs and Brazilians together. It has been in operation for more than 60 years, playing an active role in boosting economic, cultural and tourism activities, and facilitating the flow of information between Arabs and Brazilians.



Globe Express Services (Overseas Group) announces 12 per cent growth as UAE maintains high ranking in global Logistics Performance Index


UAE jumps to 17th place in World Bank’s LPI survey of 155 countries and remains the top logistics destination in Arab world


November 6, 2012

Globe Express Services (Overseas Group), one of the world’s top 100 global logistics providers, has announced a 12.21 per cent growth from January to August 2012 compared to the same period in 2011, which is in line with the company’s goal of achieving at least a 15 per cent increase in business volume between 2012 and 2013. GES (Overseas Group) further revealed that the UAE remains a key growth catalyst for the company as the country has again improved its ranking in the World Bank’s biennial Logistics Performance Index (LPI) with a score of 3.78, jumping to 17th place in 2012 from 24th in 2010 among 155 countries surveyed and topping the list in the Arab world.


GES (Overseas Group) also pointed out recent surveys showing the positive growth of the UAE’s logistics sector, which has been predicted to reach a value of around USD 9.4 billion by 2014. Accordingly, the company has reported a sustained increase in demand for its core services that include Project Logistics and Management (out-of-gauge, breakbulk, RoRo) and Logistics and Compliance Consulting.


“The UAE’s strong performance in the World Bank’s Logistics Performance Index reflects the government’s continuing success in establishing a highly efficient system for customs processes, building world-class infrastructure and maintaining the quality of logistics services in the UAE. Taking advantage of the robust market conditions, Globe Express (Overseas Group) has consistently achieved its growth targets in the UAE over the years, and we have already posted more than 12 per cent growth as we enter the final quarter of 2012. The UAE certainly serves as a strategically important market that will underpin our long-term growth strategy in the region. Globe Express will continue to focus on providing top-class logistics solutions as we complement the growing reputation of the UAE as one of the most lucrative logistics markets in the world, while reaffirming our status as one of the world’s top 100 logistics companies,” said Ziad Korban, CEO of Globe Express (Overseas Group)..


Globe Express Services (Overseas Group) specializes in out-of-gauge services, which is a core offering of the company’s Project Logistics and Management portfolio. In Logistics and Compliance Consulting, Globe Express Logistics offers its expertise in creative warehouse design, distribution, supply chain execution and material handling solutions for leading retail, wholesale, and consumer product manufacturing companies. Globe Express’ consultancy services also cover selection and implementation of supply chain execution software, including warehouse management systems, asset management systems, transportation management systems, yard management systems and labor management systems.
=